New York might be the financial capital of the world, but China is home to the planet's mightiest banks.
The top four banks in the world are from China, according to the latest annual rankings by S&P Global Market Intelligence.
Despite the trade war and currency troubles, China's "Big Four" banks grew their total assets by 1% in 2018 to $13.8 trillion, S&P said.
The list is led by Industrial & Commercial Bank of China, which retained its title as the world's biggest bank. ICBC is the only lender that has amassed more than $4 trillion in assets — or roughly the size of Citigroup (C) and Wells Fargo (WFC) combined.
The next three biggest Chinese banks are each north of $3 trillion: China Construction Bank, Agricultural Bank of China and Bank of China. All four banks are state-owned.
American banks have only gotten bigger since the financial crisis, but they've still got some growing to do to catch up to their peers in China.
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